GEMECO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GEMECO
Largest movements
- Cash +€79,653
up €79,653 (+90.1%), from €88,395 to €168,049
mainly Other debts (+€91,676) and Net result for the year (+€79,456)
- Tangible fixed assets -€22,392
down €22,392 (-40.9%), from €54,796 to €32,404
of which Furniture and vehicles: -€15,511
- Receivables within one year +€4,008
up €4,008 (+12.3%), from €32,713 to €36,722
of which Trade receivables: +€8,008
- Other debts +€91,676
up €91,676 (+336%), from €27,324 to €119,000
- Profit (loss) carried forward -€39,544
down €39,544 (-33.0%), from €119,709 to €80,164
- Tax, wage and social debts +€8,529
up €8,529 (+34.5%), from €24,719 to €33,248
of which Taxes: +€8,018
- Gross operating margin +€22,478
up €22,478 (+18.4%), from €122,328 to €144,806
- Taxes +€6,171
up €6,171 (+26.6%), from €23,229 to €29,400
- Depreciation +€2,265
up €2,265 (+11.3%), from €20,127 to €22,392
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,905 | €237,174 | +€61,269 | +34.8% |
| Fixed assets | 21/28 | €54,796 | €32,404 | -€22,392 | -40.9% |
| Tangible fixed assets | 22/27 | €54,796 | €32,404 | -€22,392 | -40.9% |
| Plant, machinery and equipment | 23 | €17,943 | €11,652 | -€6,292 | -35.1% |
| Furniture and vehicles | 24 | €35,676 | €20,165 | -€15,511 | -43.5% |
| Other tangible fixed assets | 26 | €1,177 | €588 | -€589 | -50.1% |
| Current assets | 29/58 | €121,108 | €204,770 | +€83,662 | +69.1% |
| Amounts receivable within one year | 40/41 | €32,713 | €36,722 | +€4,008 | +12.3% |
| Trade receivables | 40 | €12,013 | €20,022 | +€8,008 | +66.7% |
| Other amounts receivable | 41 | €20,700 | €16,700 | -€4,000 | -19.3% |
| Cash at bank and in hand | 54/58 | €88,395 | €168,049 | +€79,653 | +90.1% |
| Total equity and liabilities | 10/49 | €175,905 | €237,174 | +€61,269 | +34.8% |
| Equity | 10/15 | €120,709 | €81,164 | -€39,544 | -32.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,709 | €80,164 | -€39,544 | -33.0% |
| Amounts payable | 17/49 | €55,196 | €156,010 | +€100,814 | +183% |
| Amounts payable within one year | 42/48 | €55,196 | €156,010 | +€100,814 | +183% |
| Trade debts | 44 | €3,153 | €3,762 | +€609 | +19.3% |
| Suppliers | 440/4 | €3,153 | €3,762 | +€609 | +19.3% |
| Taxes, remuneration and social security | 45 | €24,719 | €33,248 | +€8,529 | +34.5% |
| Taxes | 450/3 | €5,364 | €13,382 | +€8,018 | +149% |
| Remuneration and social security | 454/9 | €19,355 | €19,866 | +€511 | +2.6% |
| Other amounts payable | 47/48 | €27,324 | €119,000 | +€91,676 | +336% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,127 | €22,392 | +€2,265 | +11.3% |
| Other operating charges | 640/8 | €12,968 | €13,477 | +€509 | +3.9% |
| Gross operating margin | 9900 | €122,328 | €144,806 | +€22,478 | +18.4% |
| Operating profit (loss) | 9901 | €89,233 | €108,937 | +€19,703 | +22.1% |
| Financial income | 75/76B | €54 | €200 | +€147 | +273% |
| Recurring financial income | 75 | €54 | €200 | +€147 | +273% |
| Financial charges | 65/66B | €184 | €282 | +€98 | +53.1% |
| Recurring financial charges | 65 | €184 | €282 | +€98 | +53.1% |
| Profit (loss) for the period before taxes | 9903 | €89,103 | €108,855 | +€19,752 | +22.2% |
| Income taxes | 67/77 | €23,229 | €29,400 | +€6,171 | +26.6% |
| Profit (loss) for the period | 9904 | €65,874 | €79,456 | +€13,581 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,874 | €79,456 | +€13,581 | +20.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.